Any student loan, grant, fellowship, teaching fellowship or other means of financial assistance authorized by and/or under the control of the Oklahoma State Regents for Higher Education, any operating Board of Regents of Oklahoma Universities or Colleges, or any employee or employees of any university, college or other institution of higher learning, whether such loan, grant, fellowship, teaching fellowship or other means of financial assistance be financed by state or federal funds, or both, may be revoked or terminated by the person or persons authorizing and/or controlling same for any of the following reasons:
Okla. Stat. tit. 70, § 624